FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.98ratio
FMR$1,300
Market$1,320
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR
0.97ratio
FMR$1,660
Market$1,710
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
0.89ratio
FMR$1,910
Market$2,140
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.89
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 40268 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40268 (Louisville, KY) is $1,300 a month. That is up 0.8% from $1,290 in FY 2026. Louisville is in the Louisville, KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 61 ZIP codes in Jefferson County, 40268 is tied for the 26th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40268 is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 40268
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$980
$990
+1.0%
$891–$1,089
1BR
$1,060
$1,080
+1.9%
$972–$1,188
2BR
$1,290
$1,300
+0.8%
$1,170–$1,430
3BR
$1,650
$1,660
+0.6%
$1,494–$1,826
4BR
$1,920
$1,910
−0.5%
$1,719–$2,101
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 40268
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$990
$1,080
$1,300
$1,660
$1,910
FY 2026
$980
$1,060
$1,290
$1,650
$1,920
FY 2025
$1,020
$1,110
$1,350
$1,740
$2,020
FY 2024
$990
$1,090
$1,320
$1,730
$1,980
FY 2023
$790
$890
$1,070
$1,420
$1,630
Two-bedroom rent in nearby Jefferson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 40268?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,300, that basic range is $1,170 to $1,430 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 40268 in?
ZIP 40268 is in the Louisville, KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 40268 for FY 2027?
The two-bedroom FMR rose 0.8%, from $1,290 in FY 2026 to $1,300 in FY 2027. Since FY 2023 it has risen 21.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set